Career Highlights
Gary Gunn has served as a co-managing partner of Hughes Watters Askanase since December 2007. He shares this role with Wayne Kitchens.
Gary joined Hughes Watters Askanase when HWA merged with Gunn, Mullins & Farrell, L.L.P. in 2005. Prior to merging with HWA, Gunn, Mullins & Farrell focused its practice on lender representation and commercial transactions. Gary and his partners recognized that a merger with HWA would provide them with the capacity to offer an enhanced set of top tier legal services to existing and prospective clients.
Gary was admitted to practice law in Texas in May 1988. He began his legal career in Houston as an associate with a local firm where he gained experience in commercial litigation. He next aligned with Russel Holt to form Gunn & Holt, PC, which maintained a broad civil practice, including representation of lenders in real estate financing transactions, loan workouts, collections and foreclosures, and other issues. Gunn & Holt also provided legal services in connection with real estate, general business and licensing transactions.
In 1996, Gary accepted the offer of a client, Interactive Visual Systems Corporation (IVS), to serve as its general counsel. IVS developed and operated DWANGO (Dial-Up Wide Area Network Gaming Operation), a high-speed computer gaming solution. As general counsel, he negotiated licensing agreements, other contracts and strategic alliances, and sought protection for IVS' intellectual property. By June 1996, Gary was promoted to chief operating officer of IVS and was later responsible for developing and executing the company's exit strategy.
Client Experience
Gary represents banks and other financial institutions, commercial real estate developers, landlords, tenants, and other businesses. He has extensive experience representing clients in real estate financing transactions, commercial loan workouts and foreclosures, commercial real estate transactions, acquisitions of promissory notes and other assets, in addition to general business transactions.
During the current economic downturn, Gary's clients have increasingly relied upon him to evaluate and develop innovative strategies to address the many complex and interrelated legal and financial issues they are facing. Gary has special expertise in assisting his clients in restructuring transactions and projects to match the needs and abilities of all parties.
Some examples of Gary's transactional experience include the following:
- Represented lender in $18 million loan for construction of student housing facility on ground-leased property in McLennan County, Texas.
- Represented lender in $12.8 million loan for construction of office building in Brazoria County, Texas.
- Represented lender in $15 million revolving credit facility secured by timeshare-related assets.
- Represented lender in $12.5 million refinance of office building in Harris County, Texas.
- Represented lender in $13 million refinance of hotel property in Tarrant County, Texas.
- Represented lender in $13.5 million refinance of marina property in Harris County, Texas.
- Represented lender in third party's assumption of original borrower's obligations under $9.1 million loan secured by real property located in Harris County, Texas.
- Represented lender in $10 million loan for acquisition of real estate and development of residential subdivision in Houston, Texas.
- Represented lender in restructure of $7.3 million real estate loan to tenants-in-common.
- Represented lender in $8.7 million loan for construction of office building in Harris County, Texas.
- Represented lender in $6.1 million loan for construction of business condominium complex in Harris County, Texas.
- Represented lender in $5 million refinance of mini-storage facility in Harris County, Texas.
- Represented lender in establishment of $3.8 million credit facility for acquisition of distressed assets.
- Represented lender in establishment of 1.75 million operating and construction credit facility secured by borrower's real property and equipment
- Represented lender in $6.5 million loan for construction of business condominium complex in Travis County, Texas.
- Representation of lender in $7.2 million loan for conversion of Houston warehouse facility into single-family residential and commercial use lofts.
- Represented lender in $7.4 million loan for acquisition and rehabilitation of apartment complex located in Travis County, Texas.
- Represented business owner in acquisition of real estate and construction of two large daycare facilities in Brazoria County, Texas and financing thereof.
Education
- University of Houston Law Center, Juris Doctorate, December 1987
- University of Texas at Arlington, Bachelor of Science degree, Economics 1984
Certifications
- Gary is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization.
Professional Memberships
- Houston Bar Association
- Houston Exchange Forum
- State Bar of Texas - Real Estate, Probate and Trust Law Sections
- Texas Association of Bank Counsel
Hobbies and Special Interests
Gary enjoys spending time with his wife, Virginia, and their three sons—Graeme, Braeden, and Greyson. Other hobbies include golfing and other sports, work, playing the guitar and other musical instruments, computer gaming with his children, traveling and working out.
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